Automotive coatings improve the durability and looks of vehicles. Theyalso protect the latter from external and cruel climatic conditions. These conditions may vary from ultra violet radiations and extreme temperatures to foreign particles. Some of the primary clients of the automotive coatings market include automotive body shops and collision repair centers. Rising demand for automotive coatings from both these clients is estimated to drive the demand for the market.Automotive refinish coatings are utilized in the market of automotives for vehicle refinishing and repair. The worldwide automotive coatings market is growing speedily in relation to color alternatives, products and durability.

As mentioned above, automotive coatings offer sophisticated looks and protection to vehicles. One of the vital propellers of the market is the continual supply of operating vehicles. The greater the vehicle production, the greater is the demand for the automotive coatings market. Amplified demand for bio-friendly coatings duringincreased pollution also serves as a driver of the market. The market is predicted to attain a size of about USD 27.7 billion by 2022. The capability of these coatings to protect vehicles from acid rains, ultra violet radiations and cruel climatic conditions also propels further demand for the automotive coatings market.

Intensified production of vehicles in China, Mexico, India, Germany, Japan, United States, together with vehicle aging is also a significant driver of the market. The other prominent drivers of the automotive coatings market include quick fiscal development, innovations in road infrastructure and augmented governmental funds. Conventional solvent borne coatings are injurious to ecology. This factor is projected to restrict further growth of the market. The worldwide automotive coatings market is divided into five categories. These are consumers, applications, products, technologies and geographies.

Consumers Insights

Light vehicle OEMs were the biggest consumer sector in 2014. They are anticipated to experience significant growth over the forecast phase. This is due to superior lifestyles and accelerated demand for cars in the U.S., India and China. The sector of automotive refinish is projected to undergo fast expansion in the coming seven years. This is on account of magnified client investment power in the developing nations of India, China and Thailand.

Applications Overview

Metal coatings and plastic coatings are the two application sectors of the automotive coatings market. Metal coatings were the biggest sector and are estimated to expand in the future. Plastic coatings are anticipated to notice maximum growth in the seven years ahead.

Products Outlook

Basecoat was the biggest product sector. It is estimated to experience considerable growth over the forecast phase. Electrocoat is predicted to steer the sales of the global automotive coatings market.

Technologies Overview

Solvent borne coatings leaded the worldwide automotive coatings market with regard to income. The revenue generated by them is likely to reduce in the seven years to come. Water borne coatings are estimated to observe fast growth.

Geographies Outlook

Asia Pacific leaded the market in 2014. It is estimated to be the most rapidly developing region in the future. India, China and Japan add most of the revenue to the Asian Pacific automotive coatings market.

Global filter coatings market is expected to witness significant growth on account of growing demand in defense and infrastructure industries. Filter coatings are used for transmitting selected light wavelengths through glass. Surging consumer electronics demand owing to rising disposable income and improving standards of living in emerging economies such as India and China is anticipated to propel filter coatings market over coming seven years. Filter coatings are applied in smart phones screens and thus increasing smart phones demand is anticipated to fuel product demand over the forecast period. Promotion of renewable energy usage by several governments is further estimated to increase scope in solar device applications.

On the basis of product, these specialty coatings have been segmented into band pass and infrared filter coatings. Infrared filters are used in flame detection, sleep apnea, motion sensors, gas detection, non-contact temperature management, alcohol monitoring and anesthetic gas monitoring. Increasing use of filters in various end-use industries is also expected to propel filter coatings market growth over next seven years. These coatings, however, absorb unwanted light wavelengths that raise reliability issues during high power conditions and transmission curves that may not be required in varied applications. This factor is expected to hamper market growth over the forecast period.

Technological advancements are anticipated to result in low production costs, thus creating opportunities for market participants in near future. Innovation and product line expansion is also anticipated to propel filter coatings market growth. Manufacturing plants with customization and high precision is also expected to create lucrative opportunities for industry participants. Extensive research is being done to develop high precision filters at low cost.

North America was the dominant filters coating market on account of huge investments made by countries such as US & Canada on security and defense weapons. Increasing solar energy harnessing and applications in Asia Pacific, due to initiatives taken by the government such as custom and excise duties reduction for solar panels parts may positively impact industry expansion. Europe is also anticipated to witness high product demand over next seven years owing to expanding electronics manufacturing industry.